Price Surge: The price of LUNA once touched $0.13, with a rise of over 28% in 24 hours and nearly 100% increase in the last 7 days.

• Technical Analysis: Technical indicators show bullish momentum, with MACD forming a golden cross, EMA7 crossing above EMA25, but the RSI indicator at 57.75 indicates market sentiment is tending towards neutral.

• Driving Factors: Price volatility is mainly driven by the significant upgrade of the Terra network v2.18, speculative sentiment triggered by the approaching judgment of founder Do Kwon, and the burning of LUNC tokens.

Market Conditions

• LUNA is quoted at approximately $0.1338, with a 24-hour increase of 28.72% and a 7-day increase of 93.6%.

• 24-hour trading volume exceeds $199 million, indicating active market trading.

• Market capitalization is $143 million, ranking approximately 162nd among cryptocurrencies.

Core Driving Factors

• The Terra network has completed the v2.18 mainnet upgrade, aimed at fixing bugs and enhancing network efficiency, boosting market confidence in network stability.

• The approaching judgment of founder Do Kwon has sparked strong speculation in the market, with some traders betting that the legal risks will bring certainty to the ecosystem.

• The LUNC community is actively conducting token burns, with nearly 1.57 billion tokens burned last week, which has boosted market sentiment across the entire Terra ecosystem. 🔗

Trading Strategy

• Key resistance is between $0.1276 and $0.1300; if successfully broken, it is expected to test $0.1400 upwards.

• Initial support below is at $0.1218, followed by $0.1182.

• Technical indicators are bullish: The 1-hour EMA has formed a golden cross, MACD shows bullish momentum, and the RSI at 57.75 indicates there is still room for upward movement. $BTC $ETH #ETH走势分析 #美联储重启降息步伐